Kraken has launched a Mastercard debit card in the UK and Europe, allowing users to spend from a wide range of cryptocurrency and cash balances.
The crypto exchange said the card can be used for everyday purchases online and in stores wherever Mastercard is accepted
Users can pay from more than 600 supported crypto and cash currency balances. The funds are converted in near real time at the point of purchase. Kraken said the card offers up to 2% cashback, paid weekly in Bitcoin, euros or pounds.
It also said there are no transaction or ATM fees. The product is being introduced first in the UK and the European Economic Area (EEA), with other markets expected to follow “soon,” according to the company. In the UK, the Kraken Card is issued by Monavate, which is authorised by the Financial Conduct Authority (FCA) to carry out electronic money activities and related payment services.